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Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Debt |
Short-Term Debt (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | December 31, 2024
​ | ​ | Financing | ​ | ​ | ​ | ​ | ​ | ​ | Short-term debt
Obligor/Applicant |  | structure |  | Maturity |  | Capacity |  | outstanding
​ | ​ | ​ | ​ | ​ | ​ | (in millions)
Principal Life |  | Credit facility |  | October 2027 | ​ | $ | 800.0 | ​ | $ | —
Principal Compañía de Seguros de Vida |  |  |  |  | ​ |  | ​ | ​ |  | ​
Chile S.A. | ​ | Unsecured lines of credit | ​ | ​ | ​ | ​ | 77.0 | ​ | ​ | 31.1
Principal International de Chile S.A. |  | Unsecured lines of credit |  |  | ​ |  | 21.8 | ​ |  | 2.6
​ | ​ | Secured subscription | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Principal Credit Real Estate Income Trust | ​ | facility | ​ | ​ | ​ | ​ | 126.0 | ​ | ​ | 119.0
Total |  |  |  |  | ​ | $ | 1,024.8 | ​ | $ | 152.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | December 31, 2023
​ | ​ | Financing | ​ | ​ | ​ | ​ | ​ | ​ | Short-term debt
Obligor/Applicant |  | structure |  | Maturity |  | Capacity |  | outstanding
​ | ​ | ​ | ​ | ​ | ​ | (in millions)
Principal Life |  | Credit facility |  | October 2027 | ​ | $ | 800.0 | ​ | $ | —
Principal Compañía de Seguros de Vida | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chile S.A. | ​ | Unsecured lines of credit | ​ | ​ | ​ | ​ | 97.3 | ​ | ​ | 58.4
Principal International de Chile S.A. |  | Unsecured lines of credit |  |  | ​ |  | 33.6 | ​ |  | 0.2
Other short-term borrowings | ​ | Uncollateralized debt | ​ | ​ | ​ | ​ | 2.5 | ​ | ​ | 2.5
Total | ​ | ​ | ​ | ​ | ​ | $ | 933.4 | ​ | $ | 61.1
​
Long-Term Debt (Table) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 |
​ |  | Principal |  | Net unamortized discount, premium and debt issuance costs |  | Carrying amount |
​ | ​ | (in millions) |
3.4% notes payable, due 2025 | ​ | $ | 400.0 | ​ | $ | (0.2) | ​ | $ | 399.8 | ​
3.1% notes payable, due 2026 | ​ | ​ | 350.0 | ​ | ​ | (0.7) | ​ |  | 349.3 | ​
3.7% notes payable, due 2029 | ​ | ​ | 500.0 | ​ | ​ | (3.1) | ​ | ​ | 496.9 | ​
2.125% notes payable, due 2030 | ​ | ​ | 600.0 | ​ | ​ | (2.8) | ​ | ​ | 597.2 | ​
5.375% notes payable, due 2033 | ​ | ​ | 400.0 | ​ | ​ | (3.5) | ​ | ​ | 396.5 | ​
6.05% notes payable, due 2036 | ​ | ​ | 505.6 | ​ | ​ | (2.0) | ​ |  | 503.6 | ​
4.625% notes payable, due 2042 | ​ | ​ | 300.0 | ​ | ​ | (2.7) | ​ |  | 297.3 | ​
4.35% notes payable, due 2043 | ​ | ​ | 300.0 | ​ | ​ | (2.8) | ​ |  | 297.2 | ​
4.3% notes payable, due 2046 | ​ | ​ | 300.0 | ​ | ​ | (2.9) | ​ | ​ | 297.1 | ​
5.5% notes payable, due 2053 | ​ | ​ | 300.0 | ​ | ​ | (4.3) | ​ | ​ | 295.7 | ​
Secured credit facilities | ​ | ​ | 21.8 | ​ | ​ | — | ​ | ​ | 21.8 | ​
Non-recourse mortgages and notes payable | ​ | ​ | 3.0 | ​ |  | (0.1) | ​ |  | 2.9 | ​
Total long-term debt | ​ | $ | 3,980.4 | ​ | $ | (25.1) | ​ | $ | 3,955.3 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023 | ​
​ |  | Principal |  | Net unamortized discount, premium and debt issuance costs |  | Carrying amount |
​ | ​ | (in millions) | ​
3.4% notes payable, due 2025 | ​ | $ | 400.0 | ​ | $ | (0.7) | ​ | $ | 399.3 | ​
3.1% notes payable, due 2026 | ​ | ​ | 350.0 | ​ | ​ | (1.1) | ​ |  | 348.9 | ​
3.7% notes payable, due 2029 | ​ | ​ | 500.0 | ​ | ​ | (3.8) | ​ | ​ | 496.2 | ​
2.125% notes payable, due 2030 | ​ | ​ | 600.0 | ​ | ​ | (3.2) | ​ | ​ | 596.8 | ​
5.375% notes payable, due 2033 | ​ | ​ | 400.0 | ​ | ​ | (3.8) | ​ | ​ | 396.2 | ​
6.05% notes payable, due 2036 | ​ | ​ | 505.6 | ​ | ​ | (2.1) | ​ |  | 503.5 | ​
4.625% notes payable, due 2042 | ​ | ​ | 300.0 | ​ | ​ | (2.8) | ​ |  | 297.2 | ​
4.35% notes payable, due 2043 | ​ | ​ | 300.0 | ​ | ​ | (2.9) | ​ |  | 297.1 | ​
4.3% notes payable, due 2046 | ​ | ​ | 300.0 | ​ | ​ | (3.0) | ​ | ​ | 297.0 | ​
5.5% notes payable, due 2053 | ​ | ​ | 300.0 | ​ | ​ | (4.3) | ​ |  | 295.7 | ​
Non-recourse mortgages and notes payable | ​ |  | 3.1 | ​ |  | (0.1) | ​ |  | 3.0 | ​
Total long-term debt | ​ | $ | 3,958.7 | ​ | $ | (27.8) | ​ | $ | 3,930.9 | ​
Future Annual Maturities of Long-Term Debt (Table) | As of December 31, 2024, future annual maturities of long-term debt were as follows (in millions): ​
​ | ​ | ​ | ​ | ​
Year ending December 31: |  | ​ |  |
2025 | ​ | $ | 421.6 | ​
2026 | ​ | ​ | 349.3 | ​
2027 | ​ | ​ | 0.1 | ​
2028 | ​ | ​ | 2.8 | ​
2029 | ​ | ​ | 496.9 | ​
Thereafter | ​ | ​ | 2,684.6 | ​
Total future maturities of long-term debt | ​ | $ | 3,955.3 | ​
​

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